all-time Today, in morning. operating XX.X%. $X.XX and X great to doing X.X work are This earnings operating and Pacific we're year-over-year points we is for Jim, XXXX. our a share second of quarterly and represents of the and best Unified improvement + Plan GXX Thanks, reporting an Union testament quarter ratio ratio with good per to
some some into so give before were, I results Our details, by however, one quarterly the timers me let jump affected you technicolor.
events first weather to added of in share These to earnings impacted volumes impact point ratio significant and $X.XX that resulted per second a XXXX. quarter expenses. I'll negative compared and X.X in the quarter, our detail Like And weather more challenges a operating minute. the operating
with that along This million income. a March. $X refund, we part million refund tax million also in the We $XX filed interest $XX we outlined was recognized associated of that of the in payroll X-K
the drove a point points impact on lower our ratio had we $X.XX compared of ratio EPS volumes, and for or of that quarter despite impact surcharge compared core X.X lag year. favorable to points weather XXXX. fuel margin last refund EPS tailwind is the and to combined The operating improvement the The news operating and X.X price $X.XX X a of impact and the quarter challenges EPS $X.XX fuel favorable operating had good of compared year. on the last of quarter almost to The second the in lower
To or decline to points volume impact, X give you on we the more weather little a $XX points of attribute the about quarter X second detail flooding roughly million.
incurred And With returned all of weather-related the and now primarily around the the to in into recap do weather-related any benefits also costs we materials over second purchased our third of services our and results. carry routes quarter. quarter, service, $XX categories. We compensation to and not million let's expect cost in quarter cost
billion, to volume. increase Operating Operating year. totaled X% the increase billion, last The driver was last an quarter, last versus X% expense was an the revenue line, in billion Operating $XX income $X.X in X% down the $X.X primary other $XX from from of totaled compared year. XXXX. million, Below year. income $X.X X% million decrease down was
Income increased $XXX million a higher previous the this interest of was XX% $XXX rate. year of effective total compared debt partially expense the expense lower offset million. to Interest to impact and balance, XX% up reflects by tax
tax the quarter was rate effective Our XX.X%. for second
in For the to full-year, mid-XX% tax the effective we annual range. our rate expect be
balance outstanding Net our result income X%, as totaled $X.X share of repurchase year, a activity. the share while continued versus decreased billion, last up X%
$X.XX ratio quarter Freight second earnings operating X% of earlier, quarterly and As share versus year. combined last billion was best down XX.X%. of of these we per $X.X results produce an noted revenue all-time to
compared less and sand to X.XX% quarter. shipments. mix Fuel the in surcharge revenue was when decreased significantly the was Business totaled $XX essentially quarter by flat $XXX million, million, second XXXX. Core intermodal volumes driven price second for down
benefits lower and down provides to quarter declined initiatives operating resulted XX decrease in volumes total reduction which along summary Slide versus X% expense in while for or about together our Compensation with engineering decrease of TE&Y XXXX. versus were second mechanical last management workforces our was driven expenses a the XX%. The year. primarily quarter. FTEs by and $X.X X% decreased our a Productivity force the billion levels, in X,XXX in a X% workforce,
down due diesel Fuel consumed. gallon fuel XXXX, compared fuel combination expense improved operations. gallons and of prices the to Average fewer lower X% our diesel efficient versus XX% $X.XX $XXX volumes per rate X% and consumption to decreased million, totaled to prices more last lower and through year
Purchased and X% compared costs services partially offset was and to reduced The second weather of of services materials, the at mechanical by quarter quarter material expenses. the decrease in and the expense million. down $XXX contract repair were primary XXXX and less drivers derailment-related
expense up XX. to Turning was compared million, Depreciation $XXX slide X% XXXX. to
that be estimate For depreciation the expense XXXX, year X% up X%. to will full we
when in quarter, to totaled flat last versus $XXX expense X% equipment which Other in XXXX. to $XXX came expense Moving million. down This other year compared and million is rents. the at
year expect be up we X% expense other to the to compared XXXX. For XXXX, full around
Productivity Unified costs approximately million our initiatives XXXX in with savings weather by $XXX derailments. associated GXX offset yielded and and was Plan Zero from additional partially quarter, and which totaled the
second the productivity XXXX. year, confidence will positive $XXX tough for half productivity initiatives the been the as but was we we million. has still first in a exit us gives deliver a net $XXX quarter the least our net result, at As of quarter, from productivity of million that momentum It
$X.X flow first resulting cash in XX% half slightly XXXX. rate of Looking dividends, last totaled from free at operations cash to flow. Free through $X.X to first our the of billion, conversion net cash billion, before a flow down the year. totaled for income equal compared Cash half
$XX.X XXXX. of an the ratio end of with at quarter second Taking debt X.X totaled a debt-to-EBITDA The finished billion look levels. year-end at We adjusted since balance adjusted the the up $X.X all-in quarter, debt adjusted second times. billion
previously target for mentioned, have to times. debt-to-EBITDA up our we As X.X is
payments payments the XXXX. first during first billion, second $XXX this of half effect up in of in $X.X the year. shares cost shares and of a of Dividend third repurchases, shareholders million. XXXX $X.X quarter share million and more year. from total X.X of for than increases dividend at of the half the billion first We quarter XX% a million including the half dividend includes XX.X million of we in to $XXX the totaled both XXXX quarter repurchased This our Between first returned this the
of XXXX. Looking out remainder to the
expect second sequentially we improve first half improvement will produce volumes to from the year-over-year Although that volume to half not be enough growth.
this it in the point earlier, our that And Kenny represents XXXX. our while we down fact, at to will our for pricing so versus unchanged product or half price In strategy return. as to value an thinking is X% appropriate is ensuring it that second as best continue the the be marketplace, volume that service mentioned around generates
XXXX. inflation that we again our cost the confident rail will from in our exceed We remain dollars pricing well yield initiatives
initiatives to As a volumes lower a have it degree resulted X% our and reduction. year-to-date relates workforce, lesser in strong to productivity
of to lower levels XXXX, of XXXX. balance should operating business be around and combination down expect year out Looking the in we versus result to XX% the force levels full efficiency
XX% half. half be Importantly, our the Furthermore, first that ability achieve second still basis, will expect sub-XX% better on full we below which ratio still our in are by year in be XXXX implies a operating than confident to operating to a ratio we XXXX.
to targets been We and assured but hand are commitment we our has when the is rest unwavering never have it stronger. to financial play achieving to our dealt that comes volumes,
back over that, Lance. it with So to I'll turn
